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City of Orono, Minnesota
<br />Statement of Net Position
<br />December 31, 2021
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and temporary investments 24,986,924$ 6,133,408$ 31,120,332$
<br />Receivables
<br />Accrued interest 11,561 6,361 17,922
<br />Taxes 114,437 - 114,437
<br />Accounts 119,037 439,678 558,715
<br />Special assessments 24,017 117,846 141,863
<br />Due from other governments 672,345 4,199 676,544
<br />Inventories 3,494 14,779 18,273
<br />Prepaid items 82,092 59,037 141,129
<br />Capital assets
<br />Land and construction in progress 9,783,695 331,132 10,114,827
<br />Depreciable assets (net of accumulated depreciation)25,305,998 19,808,301 45,114,299
<br />Total Assets 61,103,600 26,914,741 88,018,341
<br />Deferred Outflows of Resources
<br />Deferred other postemployment benefits resources 129,109 23,403 152,512
<br />Deferred pension resources 3,786,052 192,938 3,978,990
<br />Total Deferred Outflows of Resources 3,915,161 216,341 4,131,502
<br />Liabilities
<br />Accounts and contracts payable 355,658 320,288 675,946
<br />Accrued salaries payable 103,359 10,536 113,895
<br />Due to other governments 80,022 17,267 97,289
<br />Accrued interest payable 36,885 7,513 44,398
<br />Deposits payable 1,592,377 7,000 1,599,377
<br />Unearned revenue 479,494 - 479,494
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 1,352,736 127,487 1,480,223
<br />Due in more than one year
<br />Long-term liabilities 18,407,042 653,885 19,060,927
<br />Net pension liability 2,515,527 269,178 2,784,705
<br />Other postemployment benefits liability 894,628 162,164 1,056,792
<br /> Total Liabilities 25,817,728 1,575,318 27,393,046
<br />Deferred Inflows of Resources
<br />Deferred pension resources 5,090,758 250,440 5,341,198
<br />Deferred other postemployment benefit resources 149,243 27,053 176,296
<br />Total Deferred Inflows of Resources 5,240,001 277,493 5,517,494
<br />Net Position
<br />Net investment in capital assets 31,038,598 19,404,787 50,443,385
<br />Restricted for
<br />Debt service 1,651,626 - 1,651,626
<br />Golf course improvements 283 - 283
<br />Park improvements 115,812 - 115,812
<br />Drug and alcohol law enforcement 566,249 - 566,249
<br />Home buyer purchase assistance program 139,857 - 139,857
<br />Unrestricted 448,607 5,873,484 6,322,091
<br />Total Net Position 33,961,032$ 25,278,271$ 59,239,303$
<br />The notes to the financial statements are an integral part of this statement.
<br />DRAFT
<br />33
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